45% of law firms bills are late because the client cannot pay all at once. Often these law firms must accept a reduced amount or write off the bill.
Payment plans enable lawyers and clients to meet and overcome these fiscal challenges, but they can change the landscape of a law firm on a larger scale. Legal services subscribers, evergreen retainers, and distributed billing are all new business models that law firms are using. Is it time to put your firm on a layaway plan?
In Payment Plans for Law Firms & Clients, join Joshua Lenon, Clio’s Lawyer in Residence, as he explores how payment plans by law firms change the balance sheet for law firms and clients alike.
• Collect more: reduce your firm’s collection times and increase cash flow
• Deliver better client service: make it easy for your clients to pay you on their terms
• Set and forget: reduce your firm’s non-billables and spend more time practicing law
Joshua Lenon, Lawyer-in-Residence
Joshua Lenon is an attorney admitted to the New York Bar. He studied law at St. Louis University School of Law, obtaining a Juris Doctorate and a Certificate in International and Comparative Law. During this time, Joshua clerked for the Missouri Attorney General, helping prosecute discrimination claims on behalf of Missouri citizens. He also studied European Union Law at the University of Georgia School of Law’s Brussels Legal Seminar. When working for Thomson Reuters’ publishing departments in both the United States and Canada, he helped legal practitioners improve their services,
Joshua currently serves as Lawyer-in-Residence for Clio, providing legal scholarship and research skills to the leading cloud-based practice management platform from Vancouver, Canada. He’s been a guest lecturer for movements like legal hacking and legal technology at schools like MIT, Suffolk Law, and Vanderbilt, as well as before organizations like ReinventLaw and the ABA Law Practice Futures Initiative.
Please note: this is a non CLE session.
Feature image from Shutterstock.